Newcrest Mining Limited has issued an update on the revised conditional and non-binding proposal from Newmont Corp. to acquire all of the issued shares in Newcrest, by way of a scheme of arrangement.
Newmont said it completed due diligence requirements and Newcrest has agreed to extend the former’s exclusivity until 11:59 pm on 18 May on the same terms as previously announced, to provide further time for Newmont to submit a binding offer.
Newcrest previously announced that it granted Newmont exclusivity until 11:59 pm on 11 May to allow the latter to conduct confirmatory due diligence on an exclusive basis.
Newcrest said it will release updates on any material developments in accordance with its continuous disclosure obligations.
There is no certainty that the revised proposal will result in a binding offer for consideration by shareholders.
